- USD/SGD is currently trading around 1.3410 marks.
- It made intraday high at 1.3445 and low at 1.3405 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1.3492 marks.
- A daily close below 1.3398 will drag the parity down towards key supports at 1.3313/1.3302/ 1.3271 levels.
- Alternatively, a sustained close above 1.3492 will test key resistances at 1.3537, 1.3638, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
We prefer to take short position in USD/SGD only below 1.3402, stop loss at 1.3492 and target 1.3313.
